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Lenkyta
Level 2

Recording Affiliate fees

Hi, 

What is a proper way to record the affiliate fees with payments made to us? 

Thank you very much!

Best, Lenka

 

Solved
Best answer May 13, 2021

Best Answers
john-pero
Community Champion

Recording Affiliate fees

Oh, that's entirely different - but identical to how card processing fees are handled when we collect through Square.

 

Record full payment for services, create deposit, and on an extra line in deposit, enter negative for an expense account for fees to get to net deposit amount.

 

If you charged $100 and received $90 you would have line 1 100, line 2 -10, net deposit 90

View solution in original post

4 Comments 4
john-pero
Community Champion

Recording Affiliate fees

You can use an Invoice and Receive Payment or just a Sales Receipt. Set up or use an existing product/service that flows to an income account

Lenkyta
Level 2

Recording Affiliate fees

HI John,

Thank you so much for your reply! I don't have a problem recording the payments but not sure how to reflect the fee that is being deducted from the total. 

THanks, Lenka

john-pero
Community Champion

Recording Affiliate fees

Oh, that's entirely different - but identical to how card processing fees are handled when we collect through Square.

 

Record full payment for services, create deposit, and on an extra line in deposit, enter negative for an expense account for fees to get to net deposit amount.

 

If you charged $100 and received $90 you would have line 1 100, line 2 -10, net deposit 90

View solution in original post

Lenkyta
Level 2

Recording Affiliate fees

Hi John,

Great , i was not sure if you handle it like other processing fees. 

Thank you for your input:)

 

Regards, Lenka

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